Entrepreneurs used to be enterprising, savvy founders who started businesses for one reason: to make money. But times have changed — and with the emergence of something known as social entrepreneurship, several founders’ motivations have shifted from profit margins to social responsibility.
Here, we’ll review the concept of social entrepreneurship, get some perspective on what a socialpreneur is, take a look at some examples of successful social entrepreneurship ventures, go over some social entrepreneurship ideas, see how to pick a social entrepreneurship idea of your own, and check out some key statistics on the subject.
Let’s dive in….
What is social entrepreneurship?
What is a socialpreneur?
Social Entrepreneurship Examples
Social Entrepreneurship Ideas
How to Pick a Social Entrepreneurship Idea
Social Entrepreneurs
Social Entrepreneurship Statistics
What is Social Entreprenuership?
The phrase ‘social entrepreneurship’ refers to a brand of entrepreneurship rooted in funding or implementing solutions to cultural, social, or environmental problems. The term is something of a catch-all that covers virtually any type of private organization that uses business as a means to socially conscious ends. Social entrepreneurship is a relatively fluid concept that covers a broad variety of organizations. There’s no definitive mold that says, “A socially entrepreneurial business generates X amount of revenue within the confines of a Y organizational structure for a Z type of cause.”
For instance, both a mutual aid fund dedicated to assisting small businesses in marginalized communities and a corporation that uses its proceeds to support education for women in third-world countries could both be considered socially entrepreneurial outlets.Some social enterprises might not follow any sort of typical organizational structure — they can be run entirely by volunteers who do not receive a paycheck or individual contributors that participate of their own accord.
What is a socialpreneur?
A socialpreneur is a person that sets out on an entrepreneurial venture with the intention of addressing social issues and contributing to the social good. These businesses can have a for-profit, non-profit, or hybrid model, but funds are typically used to support operational costs and develop programs to support target markets. While socialpreneurs still abide by most core tenets as conventional entrepreneurs, there are key differences between the two groups.
Socialprenenur vs. Entrepreneur
The most significant difference between a socialpreneur and an entrepreneur is the end goal. The former is less interested in defining their successes through high profit margins. Instead, they’re guided by how their operations benefit their causes and communities of interest. While social entrepreneurs typically engage in standalone ventures, entrepreneurs can start for-profit businesses that fund programs to support social issues. Let’s go over some real-life examples of small business social entrepreneurship, as well as larger enterprise businesses that engage in social ventures.
Inkerij Foundation utilize its resources and grassroot networks to improve a leader’s ability, so he/ she to lead community change in the County Los Angeles. Helping executives to reapproach their work by offereing a safe for professional coaching space. Inkerij is a broker of relationships in the State of California and can help corporate organiztions to design social responsible programs.
